Atlas Venture closes ninth fund on $265m


boston_building_170sqVenture capital firm Atlas Venture has reportedly closed its ninth fund – and the first raised since reorganising – on $265m.

A spokesman for the firm confirmed the fundraising to Dow Jones after it was reported by Fortune.

The total amount raised by Atlas topped its initial target by $15m, said Atlas partner Jeff Fagnan, according to the Boston Business Journal. The new fund is slightly smaller than the firm’s previous vehicle, which raised $285m in 2009, falling short of its $400m target.

The firm will continue investing in early stage tech and life sciences companies based in Boston.

Earlier this year Atlas backed a $27m funding round for IT group DataXu alongside Thomvest Ventures, Flybridge Capital Partners and Menlo Ventures.

Last year the firm took part in an £8m financing round for UK-based online luxury travel club Secret Escapes, which was also supported by Index Ventures and Octopus Ventures.

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